Simply gifting your children or grandchildren their inheritance could pose major issues further down the line.
With more of us passing on our inheritances while we live,an increasing number of Australians are looking beyond the family tree when estate planning.
We make detailed plans for retirement,and spend our whole working lives building up superannuation,but what about our financial legacy?
We are in the midst of the greatest intergenerational wealth transfer ever. But for those without children,deciding where their money should go is a complex affair.
There are many potential things you could do with this inheritance,and a good argument could be made for each of them.
With more blended families and a record $3.5 trillion intergenerational wealth transfer expected over the coming decade,inheritance clashes are set to balloon.
Succession:the rise in real-life family legal fights| The US churches helping immigrants on the frontline| Two mates,one market:a Sunday ritual
When you pass away,the money in your super account will be paid out as a lump sum,and,in some situations,taxed.
We’re in the middle of the largest intergenerational wealth transfer ever,and it’s beginning to tear at our nation’s social fabric.
A bitter dispute involving the descendants of Jane Seymour,Henry VIII’s third wife,is playing out in court as the family bickers over a 110-room mansion and a 2600-hectare estate.